The regulator has found larger, restricted and firms tied to networks to be more consistent in providing suitable advice than their smaller, independent and directly authorised counterparts.
In its latest suitability review the Financial Conduct Authority (FCA) said it was pleased to find advice given by regulated financial advisers was suitable in 93.1% of the cases but found slight variances in the types of firms it regulates. The regulator had assessed 1,142 individual pieces of advice given by 656 firms against its suitability and disclosure rules. It found restricted advisers were more likely to give suitable advice than their independent counterparts, while appointed representatives (AR) of networks also fared better than advisers who were directly authorised. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
